Residential customers who heat with natural gas or electric heat sources paying approximately 20 percent less this winter
BALTIMORE, March 16, 2012 – Baltimore Gas and Electric Company (BGE) today, announced that residential customers who purchase natural gas from the utility can expect to pay approximately 20 percent less to heat their homes this winter as compared to last winter. Customers who purchase electricity from BGE and have electric heat sources can also expect to pay about 20 percent less this winter. The decline is largely the result of unseasonably mild temperatures and declining commodity costs. It is important to note that an individual customer’s bill will vary depending primarily on the energy efficiency of the home, condition and efficiency of the heating system, and any changes in usage.
“Minimal snowfall and milder-than-normal temperatures across Central Maryland have helped BGE’s residential customers collectively save nearly $111 million in gas and electric heating costs this winter,” said Jeannette M. Mills, vice president and chief customer officer for BGE. “Despite these significant savings, BGE customers should still look for ways to reduce energy consumption including taking advantage of the many BGE programs intended to help customers better manage energy usage. Combined with mild temperatures, these programs can help customers lower their BGE bills by using less energy.”
The typical residential gas customer can expect a total gas bill of approximately $467 for the period beginning Nov. 1, 2011, and ending March 31, 2012, a decrease of nearly $120 when compared to the same period a year ago. For the same period last winter, the typical gas customer paid $584 to heat their homes. BGE’s average commodity cost for natural gas is approximately 59 cents per therm this winter compared to 62 cents per them last winter.
Residential electric customers who purchase their power from BGE and whose primary heating source is electricity can also expect to pay less to heat their homes this winter. For the typical electric residential customer with an electric heat source this means a total electric bill of approximately $976 from Nov. 1, 2011 – March 31, 2012, compared to approximately $1,240 during the 2010 — 2011 heating season — a decrease of $264. BGE’s non-summer weighted average price for electricity this winter is 8.9 cents per kilowatt hour (kWh), compared to approximately 10 cents per kWh hour last season.
This information is based on three full months of winter data, Nov. 1 – Feb. 29 and assumes temperatures for the final winter month of March will continue to be warmer-than-normal.
The many programs offered as part of BGE’s Smart Energy Savers Program® include Quick Home Energy Check-Up, rebates, lighting discounts and other incentives for purchasing energy efficient appliances and heating and cooling systems. Seasonal energy management information can be found in the Winter Ready section of BGE’s website.
Additional energy management options for BGE residential customers include Budget Billing, which evens out payments over a 12-month period and limits the impact of seasonal increases in usage. Qualifying customers are also urged to apply for energy assistance and weatherization assistance. BGE’s Limited Income Energy Efficiency program can help reduce out-of-pocket gas and electric expenses for limited income customers. Some customers may qualify for the repair or replacement of inefficient gas furnaces and heat pumps through this program. Other resources available to our customers include BGE’s Consumer Reference Book, which is mailed to every residential customer each year and is available online, and the Community Resource Guide, which is also available online.
Customers also have the option to purchase natural gas and electricity from third-party suppliers that may offer lower prices or longer fixed-price terms than BGE’s Standard Offer Service. More than 263,000 BGE residential customers are already shopping for electric suppliers and nearly 105,000 residential customers are shopping for natural gas suppliers. This represents approximately 24 percent of the utility’s residential electric customers and about 17 percent of its residential gas customers. A list of qualified residential suppliers can be found at www.bge.com.
BGE, www.bge.com, headquartered in Baltimore, is Maryland’s largest gas and electric utility, delivering power to more than 1.2 million electric customers and more than 640,000 natural gas customers in Central Maryland. The company’s approximately 3,000 employees are committed to the safe and reliable delivery of gas and electricity, as well as enhanced energy management, conservation, environmental stewardship and community assistance. BGE is a subsidiary of Exelon Corporation (NYSE: EXC), the nation’s leading competitive energy provider with approximately $33 billion in annual revenues.